Westinghouse, Bulgaria to begin talks on new nuclear power reactor

Kozloduy nuclear plant

Westinghouse Electric Co. signed an agreement to begin talks on building a nuclear power plant in Bulgaria.

No financial terms were disclosed, but the deal could be worth several billion dollars if it leads to a binding contract in 2014, according to the Wall Street Journal. The deal would see Westinghouse building a new nuclear reactor at the existing Kozloduy power plant, which currently houses six Russian-built reactors. Four of the units have been decommissioned and the remaining two have undergone renovations to comply with European Union safety regulations, the article said.

Bulgaria said it would like construction to begin in 2016.

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